Barbara borrows $4,500 at 12 percent annually compounded interest to be repaid in four equal annual installments. The actual end-of-year payment is

The actual end-of-year payment or present value of this ordinary annuity is equal to $1,482.How to calculate the actual end-of-year payment?For the rate of interest, we have:Rate of interest, r = APR/12Rate of interest, r = 0.12/12Rate of interest, r = 0.01Next, we would calculate the present value of this ordinary annuity by using this formula:Present value, PV = [P ÷ [1 - (1 + r)^{-n}]/r]Where:r is the interest rate.P is the principal.n is the number of times compounded.Substituting the given parameters into the formula, we have;Present value, PV = 4,500 ÷ ((1 - (1 + 0.12)^(-4))/(0.12))Present value, PV = 4,500 ÷ ((1 - (1.12)^(-4))/(0.12))Present value, PV = 4,500 ÷ ((1 - 0.635518078)/(0.12))Present value, PV = 4,500 ÷ ((0.364481922)/(0.12))Present value, PV = 4,500/3.0373Present value, PV = $1,481.58 ≈ $1,482.Read more on payment here: https://brainly.com/question/4562861#SPJ1